Recently, the Yunnan Provincial Bureau of Statistics and the Yunnan Survey Team of the National Bureau of Statistics released the province's economic data for 2025. The data shows that the value-added of the new energy battery, green aluminum, and silicon photovoltaic industries increased by 75.9%, 12.1%, and 3.2%, respectively. The proportion of clean electricity further improved. Hydropower generation reached 329.716 billion kWh, a year-on-year increase of 5.6%; solar power generation reached 40.133 billion kWh, an increase of 33.7%; wind power generation reached 32.883 billion kWh, a decrease of 15.3%; and thermal power generation reached 56.873 billion kWh, a decrease of 5.5%. The proportion of clean electricity reached 87.6%, an increase of 1.3 percentage points compared to 2024.

PriceSeek Analysis:
Aluminum, Bull-Bear Score: 1.5
The article indicates that the value-added of the green aluminum industry increased by 12.1%, suggesting strong downstream demand, which may drive up spot prices for aluminum. As a bulk commodity, recent futures market data shows an upward trend in the price of the main contract, and expectations of demand growth are likely to further support futures prices. Therefore, the rating is moderately bullish.

Silicon, Bull-Bear Score: 0.5
The value-added of the silicon photovoltaic industry increased by 3.2%, indicating a moderate increase in silicon demand, which provides slight support for spot prices. Recent silicon futures contracts have shown limited volatility, but demand growth may exert upward pressure. Therefore, the rating is slightly bullish.

Coal, Bull-Bear Score: -1
Thermal power generation decreased by 5.5%, reflecting reduced demand for coal, which may lower spot prices for coal. Recent data from the coal futures market suggests risks of oversupply, and expectations of declining demand are likely to exacerbate downward pressure on futures prices. Therefore, the rating is moderately bearish.